Blackstone Mortgage Trust, Inc. (BXMT) To Go Ex-Dividend on June 28th

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) announced a quarterly dividend on Friday, June 14th, Zacks reports. Investors of record on Friday, June 28th will be paid a dividend of 0.62 per share by the real estate investment trust on Monday, July 15th. This represents a $2.48 annualized dividend and a yield of 13.74%. The ex-dividend date is Friday, June 28th.

Blackstone Mortgage Trust has increased its dividend by an average of 6.4% annually over the last three years. Blackstone Mortgage Trust has a payout ratio of 129.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Blackstone Mortgage Trust to earn $1.87 per share next year, which means the company may not be able to cover its $2.48 annual dividend with an expected future payout ratio of 132.6%.

Blackstone Mortgage Trust Trading Up 0.4 %

Shares of NYSE BXMT traded up $0.07 during mid-day trading on Wednesday, reaching $18.05. The company had a trading volume of 610,849 shares, compared to its average volume of 2,062,042. The stock has a market cap of $3.13 billion, a P/E ratio of 599.00 and a beta of 1.47. The firm has a 50 day simple moving average of $17.81 and a two-hundred day simple moving average of $19.47. Blackstone Mortgage Trust has a 52-week low of $16.70 and a 52-week high of $23.82.

Insider Transactions at Blackstone Mortgage Trust

In other news, CEO Katharine A. Keenan sold 4,508 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $17.53, for a total transaction of $79,025.24. Following the transaction, the chief executive officer now directly owns 182,960 shares of the company’s stock, valued at $3,207,288.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Katharine A. Keenan sold 4,508 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $17.53, for a total transaction of $79,025.24. Following the completion of the transaction, the chief executive officer now owns 182,960 shares of the company’s stock, valued at $3,207,288.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Katharine A. Keenan sold 2,296 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $17.04, for a total transaction of $39,123.84. Following the completion of the sale, the chief executive officer now directly owns 187,468 shares of the company’s stock, valued at approximately $3,194,454.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,057 shares of company stock valued at $191,141. Corporate insiders own 0.93% of the company’s stock.

Wall Street Analysts Forecast Growth

BXMT has been the subject of several recent research reports. JPMorgan Chase & Co. dropped their target price on shares of Blackstone Mortgage Trust from $18.50 to $17.50 and set a “neutral” rating for the company in a report on Thursday, April 25th. Wolfe Research started coverage on shares of Blackstone Mortgage Trust in a report on Tuesday. They set a “peer perform” rating for the company. UBS Group decreased their target price on shares of Blackstone Mortgage Trust from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Wells Fargo & Company decreased their target price on shares of Blackstone Mortgage Trust from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Finally, BTIG Research decreased their target price on shares of Blackstone Mortgage Trust from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.93.

About Blackstone Mortgage Trust

Blackstone Mortgage Trust, Inc, a real estate finance company, originates senior loans collateralized by commercial properties in North America, Europe, and Australia. The company originates and acquires senior floating rate mortgage loans that are secured by a first-priority mortgage on commercial real estate assets.